Wednesday , January 22 2020
Home / SNB & CHF / USD/CHF Technical Analysis: Sluggish below 100-DMA, 38.2 percent Fibonacci

USD/CHF Technical Analysis: Sluggish below 100-DMA, 38.2 percent Fibonacci

Summary:
USD/CHF declines for the second consecutive day. 50% Fibonacci retracement, October low could challenge sellers. An upside break of 0.9890 highlights 200-DMA, 23.6% Fibonacci retracement. USD/CHF extends the recent pullback while flashing 0.9870 as a quote during early Friday. The pair recently pulled back from 100-Day Simple Moving Average (DMA) and 38.2% Fibonacci retracement of August-October rise. Prices are now likely declining towards 50% Fibonacci retracement and October low, near 0.9845 and 0.9835 respectively. In a case sellers refuse to respect 0.9835 rest-point, September bottom and 61.8% Fibonacci retracement near 0.9800 will return to the charts. Alternatively, pair’s sustained trading beyond 0.9890 resistance confluence can push bulls to confront

Topics:
Anil Panchal considers the following as important: , , ,

This could be interesting, too:

Anil Panchal writes USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

Tyler Durden writes UBS Tumbles After Biggest Swiss Bank Misses Key Targets As Investors Pull Money

Swiss National Bank writes Central bank group to assess potential cases for central bank digital currencies

Haresh Menghani writes USD/CHF consolidates in a range, below 0.9700 handle

  • USD/CHF declines for the second consecutive day.
  • 50% Fibonacci retracement, October low could challenge sellers.
  • An upside break of 0.9890 highlights 200-DMA, 23.6% Fibonacci retracement.
USD/CHF extends the recent pullback while flashing 0.9870 as a quote during early Friday. The pair recently pulled back from 100-Day Simple Moving Average (DMA) and 38.2% Fibonacci retracement of August-October rise.

Prices are now likely declining towards 50% Fibonacci retracement and October low, near 0.9845 and 0.9835 respectively.

In a case sellers refuse to respect 0.9835 rest-point, September bottom and 61.8% Fibonacci retracement near 0.9800 will return to the charts.

Alternatively, pair’s sustained trading beyond 0.9890 resistance confluence can push bulls to confront 200-DMA and 23.6% Fibonacci retracement level around 0.9940/45.

While bearish conditions of 12-bar Moving Average Convergence and Divergence (MACD) indicate the pair’s weakness, nearness to the key support limes the downside, which in turn portrays a sluggish move.

However, sustained trading below key resistance makes the pair vulnerable.

USD/CHF daily chart

(see more posts on USD/CHF, )
USD/CHF Technical Analysis: Sluggish below 100-DMA, 38.2 percent Fibonacci

- Click to enlarge

Trend: Sideways


Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *